 | United States, United States. Congress. House. Committee on Energy and Commerce - 1985 - 510 pages
...OBLIGATIONS. (a) GENERAL RULE. — Gross income does not include interest on — (1) the obligations of a State, a Territory, or a possession of the United...of the foregoing, or of the District of Columbia; and (2) qualified scholarship funding bonds. (b) INDUSTRIAL DEVELOPMENT BONDS. — (1) SUBSECTION (aXD... | |
 | 1988 - 744 pages
...Section 103(a)(1) of the 1954 Code provided that gross income did not include income on the obligations of a State, a Territory, or a possession of the United...of the foregoing, or of the District of Columbia. Additionally, Treasury Regulation Section 1.03-1 (a) defines "State or local governmental unit", interest... | |
 | United States - 1987 - 556 pages
...OBLIGATIONS. (a) GENERAL RULE. — Gross income does not include interest on — (1) the obligations of a State, a Territory, or a possession of the United...of the foregoing, or of the District of Columbia; and (2) qualified scholarship funding bonds. (b) INDUSTRIAL DEVELOPMENT BONDS. — (1) SUBSECTION (aXD... | |
 | United States - 1988 - 552 pages
...OBLIGATIONS. (a) GENERAL RULE. — Gross income does not include interest on — (1) the obligations of a State, a Territory, or a possession of the United...of the foregoing, or of the District of Columbia; and (2) qualified scholarship funding bonds. Jb) INDUSTRIAL DEVELOPMENT BONDS. — (1) SUBSECTION (aXD... | |
 | United States - 1997 - 776 pages
...OBLIGATIONS. (a) GENERAL RULE. — Gross income does not include interest on — (1) the obligations of a State, a Territory, or a possession of the United...of the foregoing, or of the District of Columbia; and (2) qualified scholarship funding bonds. (b) INDUSTRIAL DEVELOPMENT BONDS — (1) SUBSECTION (a)(1)... | |
 | Jack Rabin - 2001 - 824 pages
...Exemption Section 103(a)(l) of the internal revenue code excludes from taxable income the obligations of a state, a territory, or a possession of the United...any political subdivision of any of the foregoing, or the District of Columbia. In many cases the determination of eligibility for tax exemption is straightforward.... | |
 | Jack Rabin - 2001 - 824 pages
...Exemption Section l03(a)(l) of the internal revenue code excludes from taxable income the obligations of a state, a territory, or a possession of the United...any political subdivision of any of the foregoing, or the District of Columbia. In many cases the determination of eligibility for tax exemption is straightforward.... | |
 | 1973 - 392 pages
...treated as income received in such taxable year. (b) Short-term obligations issued on discount basis. In the case of any obligation — <1) Of the United...foregoing, or of the District of Columbia, which is lasued on a discount basis and payable without interest at a fixed maturity date not exceeding 1 year... | |
 | United States. Internal Revenue Service - 1957 - 1326 pages
...Internal Kevenue Code of 1951 provides that gross income does not include interest on the obligations ) e ^ g ˋ S { / sSI H L nF &֙@ S^ bhp q c2 J # P&=Q q R+J Q5% Ւ ? 8 E d WZ . Ec | ႙ Although the exemption provided in section 103(a)(l), supra, expressly relates to "interest'' on the... | |
 | 1973 - 664 pages
...obligations (a) General rule. — Gross-income does not include interest on — (1) the obligations of a State, a Territory, or a possession of the United...of the foregoing, or of the District of Columbia; (2) the obligations of the United States; or (3) the obligations of a corporation organized under Act... | |
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The obligations of a State, a Territory, or a possession of the United States, or any political subdivision of any of the foregoing, or of the District of Columbia... 
